E-Commerce Giant Rakuten to move the Crypto Exchange to the new payment branch

The Japanese e-commerce company Rakuten has announced a review of its corporate restructuring, creating a new payment branch that includes its cryptocurrency business, according to Cointelegraph Japan on January 21st.

Rakuten, known informally as "Japanese Amazon", originally revealed in August of last year, would try to reorganize its various ramifications in order to improve accountability and decision-making processes.

Now, the company claims that it will replace its loyalty subsidiary, Spotlight Inc., with a new entity, Rakuten Payment, which will also manage its cryptocurrency.

Rakuten Payment, along with other details of the restructuring, should be published by April 1, according to the company's statement in an accompanying press release dated January 18th.

Once launched, it will form an umbrella for two operations: the exchange of cryptocurrencies Everyco & # 39; s Bitcoin, which Rakuten also acquired last August, and the prepaid card service Rakuten Edy.

Officials explained in the press release:

"[W]We have prepared the reorganization of the group through a business division, to clarify the responsibility, improve the efficiency of management and optimize the allocation of resources, and then further expand the Rakuten ecosystem and maximize the company value. "

Rakuten has been interested in the cryptosphere for several years, before opting to accept Bitcoin (BTC) on its platform in 2015.

The practical approach to the sector reflects that of the other major Japanese Internet entities such as SBI Group, which in addition to its exchange also invests heavily in related startups.